PLANNED SOUTH AFRICAN AUDIT FIRM ROTATION SPARKS DISCORD AMONG ACCOUNTS
May 1st, 2017
THE PLANNED introduction of mandatory audit firm rotation (MAFR) by the South African Independent Regulatory Board for Auditors (IRBA) has sparked widespread dissention within the country’s business and accounting communities This is despite that the reform’s goal is to strengthen auditor independence and audit quality and that there are some calls for the move to be brought forward from the current introduction date of April 1, 2023. From that day, the IBRA has ordered (using delegated powers) that audit firms cannot serve a listed company longer than 10 ...
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